Powered by MOMENTUM MEDIA
moneymanagement logo
 
 

Former NSW financial adviser pleads guilty

financial-planners/ASIC/Ezzat-Daniel-Nesseim/

18 November 2021
| By Oksana Patron |
image
image image
expand image

Gordon-based former financial adviser, Ezzat-Daniel Nesseim, has pleaded guilty to five criminal offences related to financial services business, Smart Financial Strategies, that he previously ran.

The offences carried penalties of up to 10 years imprisonment.

Nesseim pleaded guilty to:

  • Dishonestly providing three backdated wholesale client certificates to the Australian Securities and Investments Commission (ASIC) in an attempt to persuade ASIC to cease or modify its inquiries;
  • Giving false answers and information to ASIC, both under oath and in response to statutory notices, after questions were raised about these certificates;
  • Making use of evidence he knew was fabricated, including doctored emails attached to his written statement and purported witness statements from individuals, in a hearing before an ASIC delegate; and
  • Giving false testimony in a hearing before an ASIC delegate.

Nessiem was granted conditional bail and had been committed to the Sydney District Court for sentence with the matter adjourned to the Sydney District Court for mention on 10 December, 2021.  

The Commonwealth Director of Public Prosecutions was prosecuting this matter following a referral by ASIC.

In 2018, Nesseim was permanently banned from providing financial services. Additionally, he was also permanently banned from engaging in credit activities from 19 July, 2019, as he was found not to be a fit and proper person to engage in credit activities, the corporate regulator said.

Currently, Nesseim was the general manager of Accord Partners, a business operated by Foresight Enterprises, of which Nesseim is the sole director.

 

 

 

 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

3 weeks 3 days ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

1 month ago

So we are now underwriting criminal scams?...

7 months ago

After last month’s surprise hold, the Reserve Bank of Australia has announced its latest interest rate decision....

3 weeks 5 days ago

While the profession continues to see consolidation at the top, Adviser Ratings has compared the business models of Insignia and Entireti and how they are shaping the pro...

1 week 4 days ago

ASIC has released the results of the latest adviser exam, with August’s pass mark improving on the sitting from a year ago. ...

2 days 4 hours ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND